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Promoting manufactuiring to accelerate economic growth and reduce growth volatility in Africa

Author

Listed:
  • Adam B. Elhiraika
  • Ousman Aboubakar
  • Kamaludeen Muhammad

    (United Nations Economic Commission for Africa, Ethiopia)

Abstract

This paper investigates the role of economic transformation in the form of increased manufacturing share in aggregate output in accelerating growth and reducing growth volatility in Africa. Using cross-section time series data from 50 African countries, the paper examines the key determinants of growth in the share of manufacturing output in aggregate output and its relationship with real GDP growth and growth volatility. Results of system GMM estimation indicate that real GDP growth and domestic investment are among the key drivers of growth in the share of manufacturing output in total output and that growth in the latter has, in turn, the potential to raise GDP growth and reduce growth volatility. It is therefore argued that African countries should pursue effective strategies, including industrial policies and institutional reforms, to promote manufacturing and other innovative activities as a means to accelerate economic growth and diversification, and enhance employment creation.

Suggested Citation

  • Adam B. Elhiraika & Ousman Aboubakar & Kamaludeen Muhammad, 2014. "Promoting manufactuiring to accelerate economic growth and reduce growth volatility in Africa," Journal of Developing Areas, Tennessee State University, College of Business, vol. 48(2), pages 1-20, April-Jun.
    • Handle: RePEc:jda:journl:vol.48:year:2014:issue2:pp:1-19
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    Citations

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    Cited by:

    1. Mohamed A.M. Sallam, 2021. "Determinants of Growth in Manufacturing Industries: Empirical Evidence from Egypt Using the ARDL Approach," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 137-153.
    2. Seng Sothan, 2017. "Causality between foreign direct investment and economic growth for Cambodia," Cogent Economics & Finance, Taylor & Francis Journals, vol. 5(1), pages 1277860-127, January.

    More about this item

    Keywords

    Manufacturing; Economic Growth; Volatility; Industrial Policy; and Africa.;
    All these keywords.

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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